Dorsey Wright & Associates Takes Position in Smith & Nephew plc (SNN)

Dorsey Wright & Associates bought a new position in shares of Smith & Nephew plc (NYSE:SNN) in the first quarter, Holdings Channel reports. The firm bought 106,308 shares of the medical equipment provider’s stock, valued at approximately $4,264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNN. Iridian Asset Management LLC CT acquired a new stake in Smith & Nephew during the 4th quarter worth $100,574,000. D. E. Shaw & Co. Inc. grew its holdings in Smith & Nephew by 506.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 391,860 shares of the medical equipment provider’s stock worth $14,648,000 after acquiring an additional 327,276 shares during the period. Foresters Investment Management Company Inc. grew its holdings in Smith & Nephew by 49.3% during the 4th quarter. Foresters Investment Management Company Inc. now owns 840,850 shares of the medical equipment provider’s stock worth $31,431,000 after acquiring an additional 277,750 shares during the period. Boston Common Asset Management LLC acquired a new stake in Smith & Nephew during the 4th quarter worth $9,083,000. Finally, FMR LLC acquired a new stake in Smith & Nephew during the 3rd quarter worth $6,770,000. 9.32% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of Smith & Nephew from a “sell” rating to a “hold” rating and set a $43.00 target price for the company in a report on Wednesday, February 13th. BNP Paribas lowered shares of Smith & Nephew from an “outperform” rating to a “neutral” rating in a report on Friday, February 8th. Deutsche Bank raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a report on Friday, December 7th. Finally, JPMorgan Chase & Co. lowered shares of Smith & Nephew from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 1st. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $43.50.

SNN traded down $0.61 during trading on Thursday, reaching $39.63. 37,201 shares of the company’s stock were exchanged, compared to its average volume of 512,091. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.15 and a current ratio of 2.10. Smith & Nephew plc has a fifty-two week low of $32.22 and a fifty-two week high of $40.78. The firm has a market capitalization of $17.63 billion, a PE ratio of 19.62, a P/E/G ratio of 3.06 and a beta of 0.44.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, April 5th will be issued a $0.44 dividend. This is a positive change from Smith & Nephew’s previous semiannual dividend of $0.25. The ex-dividend date of this dividend is Thursday, April 4th. This represents a dividend yield of 2.31%. Smith & Nephew’s payout ratio is 26.73%.

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Smith & Nephew Profile

Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

Further Reading: What are economic reports?

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Institutional Ownership by Quarter for Smith & Nephew (NYSE:SNN)

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